US apparel retailer American Eagle Outfitters has appointed interim CEO Jay Schottenstein to the position on a permanent basis.

"Jay has orchestrated a swift recovery since taking the helm, successfully guiding the company through a challenging and highly competitive retail environment," said Michael Jesselson, lead independent director for American Eagle Outfitters' board of directors.

Prior to becoming interim CEO, Schottenstein had served as chairman of American Eagle Outfitters since March 1992, and previously held the role of CEO from March 1992 until December 2002.

Since setting out priorities to strengthen merchandise, reinvigorate its brands and deliver profit improvement nearly two years ago, the company has achieved several quarters of sales and earnings growth in a tough retail landscape.

Separately, the company saw its third-quarter profit jump 723.3% to $74.1m from $9m last year, thanks to record sales and margin growth.

Conlumino analyst Neil Saunders said: "While the solid revenue increases at American Eagle Outfitters come off the back of relatively soft comparatives from last year, they are nevertheless evidence that the self help measures the company has been employing continue to pay dividends."

In the most recent third-quarter filings from US apparel and footwear brands and retailers, Sears Holdings remained optimistic despite widening its net losses, while Vince Holding blamed challenging c...

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